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Can Cyprus Reboot Offshore Drilling Plans?
...i announced its own 6-8tcf Calypso discovery (MEES, 16 February 2018), raising expectations that the island would finally be able to call itself a gas producer. Initial hopes following the 2011 discovery of Cyprus’ 4.1tcf Aphrodite had subsided in the six years between, with the mid-2014 oil price co...
Volume: 63Issue: 52Published at Thu, 24 Dec 2020 -
Libya Dusts Off $60bn Of Projects: Could This Be Its Last Chance?
...bound in the last quarter of the year, Libya’s crude production in 2020 is still set for its lowest level since 1962 at just 341,000 b/d. That represents a 69% fall on 2019’s seven-year high of 1.11mn b/d, making this year the worst since the 2011 revolution in output terms. It is also two-thirds down on...
Volume: 63Issue: 52Published at Thu, 24 Dec 2020 -
Gulf Drilling Falls To New Lows
...*Latest figures from Baker Hughes show Gulf drilling activity falling further from what were already multi-year lows (MEES, 11 September). For GCC countries the overall November total of 205 was the lowest since March 2011. *Saudi Arabia had just 60 active drilling rigs the lowest figure si...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Tunisia’s Debt-Fueled Revolution Marks 10 Years
...tings agency Moody’s puts the figure closer to -10%. But even 2019’s growth of 1% was nowhere near levels needed to create enough jobs and jolt the economy. Tunisia’s biggest problem has been a series of weak governments – some 12 in total since 2011 – that have been unable to carry out structural re...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Sudan Looks To Reverse Upstream Decline With 2021 Bidding
...Sudan’s crude output is running at 64,000 b/d, down 44% on 2014 levels and some 86% below the 457,000 b/d produced before South Sudan seceded in July 2011, taking with it 75% of Sudan’s production. Acting Energy Minister Kheiri Abdelrahman says Sudan hopes to add 20,000 b/d next year. But he...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Kuwait’s New Parliament Faces Major Economic Headwinds
...rving oil minister since 2011. 1: KUWAIT HAS STRUGGLED TO ELIMINATE BUDGET DEFICITS AMID LOW OIL PRICES ($BN) B=BUDGETED DEFICIT. ^AMENDED FROM ORIGINAL BUDGET. SOURCE: KUWAIT MINISTRY OF FINANCE, MEES. 2: KUWAIT EXPORT REVENUES ARE GRADUALLY REBUILDING FROM OIL PRICE COLLAPSE ($BN...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
China’s Role In Iraq Expands With $2bn Prepayment Deal To Zhenhua
...% Y 30 2013 Was Kuwait Energy (2018 purchase) Siba (gas) UEG^ 30% Y 30mn cfd 2011 Was Kuwait En...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Jordan Gas Trade: Hello Israel, Bye-Bye LNG?
...rtainly did keep Amman from the brink: when Egyptian gas supplies dwindled in 2011, Jordan had to import and burn costly oil products (mainly diesel) in its power fleet just as oil prices exceeded $100/B – forcing the state firm Nepco to incur over $7bn in debt (MEES, 31 May 2019). But even with the st...
Volume: 63Issue: 49Published at Fri, 04 Dec 2020